Morgan Stanley to advise NSW on Newcastle Port sale - The Australian

NEW South Wales has hired Morgan Stanley to study whether it makes commercial sense to sell the world's biggest coal-export terminal, which could fetch up to $700 million.

Morgan Stanley will review the future ownership of the Port of Newcastle, which handles coal from producers like Glencore Xstrata. The bank will be tasked with finding a buyer if it recommends a sale as the best way forward, a spokesperson for NSW Treasurer Mike Baird said.